Doug Kass Says Get Long The Market Now (SPY, QQQQ, FAS)
February 05, 2010 9:01 AM
Our good friend, Doug Kass, has announced this morning on Twitter that it is the first time he is long the market in months. Not only did Doug state that in his post, he wrote quite emphatically by typing his post in all caps.
Doug Kass said, "I AM NET LONG FOR THE FIRST TIME IN MONTHS, COMING UP... it MIGHT BE TIME TO BE GREEDY AGAIN ON THESTREET.COM."
If you believe this could be a bottom in the market and want to follow Doug into his overall thesis then here are some ETFs you could buy today:
The SPDR S&P 500 ETF (NYSE: SPY) is down 2.54% over the last five days. The SPDR S&P 500 tracks the S&P 500.
The PowerShares QQQ Trust, Series 1 (ETF) (Nasdaq: QQQQ) is down 3.49% over the last five days. The QQQQ is trading slightly up in the pre-market session. The PowerShares QQQ Trust tracks the Nasdaq.
The Direxion Daily Finan. Bull 3X Shs (ETF) (NYSE: FAS) is down close to 10% during the last five days. The FAS is trading up 3.18% in the pre-market. The Direxion Daily Financial Bull tracks the financials by using 3X leverage.
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